How Ascensus’ Plans and Participants Reacted to COVID-19 in March

Recent NAPA and ASPPA articles, citing data provided by Ascensus, discuss the effect of the COVID-19 pandemic on U.S. employees’ savings behaviors in March. The Ascensus data serves as an “early baseline” for the evolution of contribution and withdrawal behavior in response to the virus. These early insights suggest that many Americans adjusted their contributions to savings plans. However, savers haven’t yet tapped into existing savings and are making efforts to “stay the course” to help ensure financial security.